search query: @author Rosenthal, L. / total: 9
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| Author: | Rosenthal, L. |
| Title: | Chain-information in the owner-occupied housing market |
| Journal: | Economic Journal
1997 : MAR, VOL. 107:441, p. 475-488 |
| Index terms: | HOUSING MARKETS INFORMATION |
| Language: | eng |
| Abstract: | This study develops a model of transactions in the housing market, using constrained and discontinuous preferences over housing type and location, which allows the slow build-up over time of housing chains. Simulating the model showing that existing owner-occupiers will typically spend longer in searching than will either the first-time buyer or the seller of empty/new dwellings. Arguments were presented that allow the housing price series for existing owner-occupiers thereby to lag the housing price series for the other sectors. These predictons are testable empirically from the model. |
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